1.2
1.3
FUNDING
Financial support of this project may be provided through financial assistance grants from the
Federal Transit Administration (FTA). Any obligations of NTS are contingent upon reccipt of
adequate funding.
PAYMENT TO CONTRACTOR
a. Payment Schedule
NTS will pay the full price of each bus upon final acceptance of the coach and receipt of an
approved invoice.
b. Payment Terms
NTS will make payment to the Bidder within thirty (30) days from date of receipt of a properly
documented and correct invoice from the Bidder and acceptance by NTS.
c. Invoicing
Bidder's invoices must include NTS’s Purchase Order number, be billed and payable in U.S.
dollars and paid by check issued by the City of Nashua. The Bidder and NTS may use other
payment methods if agreed to by both the Bidder and NTS.
d. Maximum Payment
NTS will pay a maximum of the total amount listed on the original Purchase Order to the
Bidder for the deliverables to be provided under the contract, unless otherwise amended
via Change Order to the Purchase Order.
e. PPLINDEX ESCALATOR
NTS reserves the right to order buses and equipment over the five (5) year period beginning
upon the date of contract award, The prices of such buses and equipment shall be at the prices
quoted below. These prices shall remain firm/fixed for any orders issued by the procuring
agencies within a period of two hundred seventy (270) days of contract award. The price(s) of
any buses or equipment order by the procuring agencies after the initial two hundred seventy
(270) day firm/fixed price period shall be that quoted (Base Order Prices) plus/minus any
change which will be calculated based on the following formula which utilizes the U.S.
Department of Labor/Bureau Of Labor Statistics Producer Price Index (PPI) Category 1413,
“Trucks and Bus Bodies”. The change in this index will be used to adjust the Base Order
Prices. However, in no event will the price(s) for any purchase exceed, by more than ten
percent (10%) the previous purchase in the proceeding twelve (12) month period.
